Job Description
Important Note: During the application process, ensure your contact information (email and phone number) is up to date and upload your current resume when submitting your application for consideration. To participate in some selection activities you will need to respond to an invitation. The invitation can be sent by both email and text message. In order to receive text message invitations, your profile must include a mobile phone number designated as ‘Personal Cell’ or ‘Cellular’ in the contact information of your application.
At Wells Fargo, we are looking for talented people who will put our customers at the center of everything we do. We are seeking candidates who embrace diversity, equity and inclusion in a workplace where everyone feels valued and inspired.
Help us build a better Wells Fargo. It all begins with outstanding talent. It all begins with you.
Commercial Banking provides financial solutions to businesses with annual sales generally in excess of $5 million. Our business lines are Wells Fargo Commercial Capital, Middle Market Banking, and Treasury Management & Payment Solutions.
Wells Fargo Commercial Capital
o A market-leading provider of working capital, investment capital, trust services, and sales financing solutions that help customers optimize liquidity and grow their business through their lifecycle
The WFCC Asset Based Lending Underwriter 1 assists managers and senior staff in the underwriting and loan closing of transactions, supporting the origination function by focusing on the credit write-up process.
Responsible for assisting in the underwriting and closing of a variety of transactions and assisting in prospect review and analysis, as described below:
• Analyze and understand the prospective client’s historical and projected financial statements, cash flows, liquidity, relevant valuation metrics and drivers of enterprise value.
• Coordinate the due diligence process, including the coordination and analysis of third part due diligence (audits, appraisals QoEs, background investigation reports, etc.).
• Identify key deal strengths and weaknesses (with associated mitigants); and complete in-depth diligence on critical focus areas.
• Actively participate in meetings with the prospective client’s management team. Use meetings as an opportunity to assess the quality and strength of the management team, and to develop a deeper understanding of the borrower’s business and industry. Effectively communicate key takeaways from the meeting to Credit and senior management. Develop and maintain a positive relationship with clients throughout the underwriting process.
• Complete a comprehensive, high quality, Approval Memo. Present underwritten transactions to Credit and senior management in a clear and concise manner with well-reasoned support.
• Negotiate with prospect’s management (or financial sponsor) to structure and document the approved transaction.
• Identify critical transactional and structural risks for WFCF and propose situation appropriate structuring alternatives which best protect WFCF’s interest; make sure critical issues are elevated to manager and/or senior Underwriter.
• Review all pertinent documentation to ensure the transaction approved by Credit is appropriately documented and critical deviations have been approved prior to execution of loan documents. Complete comprehensive Funding Coordinator Memo.
• Manage the expectations of the prospect throughout the loan closing process through frequent communication and provide regular updates of transaction status to relevant parties (internal and external).
• Timely and accurately complete all internal compliance requirements when due (LL, HRB, CPE/UMV/OTE identification and coding, IAR, BQR, KYC/BSA/AML (Cornerstone)).
Employees support our focus on building strong customer relationships balanced with a strong risk mitigating and compliance-driven culture which firmly establishes those disciplines as critical to the success of our customers and company. They are accountable for execution of all applicable risk programs (Credit, Market, Financial Crimes, Operational, Regulatory Compliance), which includes effectively following and adhering to applicable Wells Fargo policies and procedures, appropriately fulfilling risk and compliance obligations, timely and effective escalation and remediation of issues, and making sound risk decisions. There is emphasis on proactive monitoring, governance, risk identification and escalation, as well as making sound risk decisions commensurate with the business unit’s risk appetite and all risk and compliance program requirements.
Required Qualifications
- 3+ years of commercial lending experience
Desired Qualifications
- Knowledge and understanding of asset based lending or commercial lending
- Financial modeling experience
Other Desired Qualifications
- Knowledge and understanding of asset based finance; analysis and evaluation of financial statements
Job Expectations
- Ability to travel up to 10% of the time
Disclaimer
All offers for employment with Wells Fargo are contingent upon the candidate having successfully completed a criminal background check. Wells Fargo will consider qualified candidates with criminal histories in a manner consistent with the requirements of applicable local, state and Federal law, including Section 19 of the Federal Deposit Insurance Act.
Relevant military experience is considered for veterans and transitioning service men and women.
Wells Fargo is an Affirmative Action and Equal Opportunity Employer, Minority/Female/Disabled/Veteran/Gender Identity/Sexual Orientation.
Benefits Summary
Benefits
Visit https://www.wellsfargo.com/about/careers/benefits for benefits information.